Bitcoin Could Drop to $95,000 Despite RSI Flashing Recovery Signal
Bitcoin (BTC) is hovering around $107,000 heading into the weekend, but market sentiment remains clouded by anxiety as multiple analysts warn of a potential deeper pullback in the near term. According to data from Cointelegraph Markets Pro and TradingView, BTC's volatility has cooled following a turbulent week that saw prices fall an additional 7%. Still, well-known trader Crypto Tony believes this is just the beginning of another leg down: "All the pieces are lining up for
Bitcoin (BTC) is hovering around $107,000 heading into the weekend, but market sentiment remains clouded by anxiety as multiple analysts warn of a potential deeper pullback in the near term.
According to data from Cointelegraph Markets Pro and TradingView, BTC's volatility has cooled following a turbulent week that saw prices fall an additional 7%. Still, well-known trader Crypto Tony believes this is just the beginning of another leg down:
"All the pieces are lining up for another drop. I'm expecting Bitcoin to fall to $95,000, and it could even test the $91,000 zone before finding a bottom," he said, while calling the overall scenario "long-term bullish."
Other traders such as Daan Crypto Trades believe BTC could hold the $107,000 level through the weekend, with $105,000 serving as key support. If U.S. equities stage a recovery next week, Bitcoin could follow with a bounce.
One rare bright spot comes from the Relative Strength Index (RSI). BTC's daily RSI has touched its lowest level since April, when prices dropped to $75,000, and is now forming a bullish divergence across multiple timeframes (6H, 8H, 12H). This suggests selling pressure is fading and a potential recovery may be taking shape.
That said, market sentiment remains deeply pessimistic. The Crypto Fear & Greed Index has dropped to 22/100, falling into "Extreme Fear" territory for the first time since April.
Observers note that if U.S. equity markets continue to recover — particularly as the S&P 500 has already reclaimed half of last week's losses — Bitcoin could break out of its current fear cycle relatively soon. But if the $105,000 support level breaks down, a move toward $95,000 becomes a very real possibility.